ACWA Power has increased its stake in the Shuaibah IWPP to 62% following the acquisition of shares previously held by Badeel. This move strengthens ACWA’s position in one of Saudi Arabia’s key integrated power and water desalination projects.
The stake increase comes amid a wave of consolidation in the Saudi energy sector, as domestic players aim to secure larger shares of strategic infrastructure. With this acquisition, ACWA Power gains greater operational and financial control over the Shuaibah site, enabling it to better steer production and maintenance strategies while optimizing returns.
Company officials noted that the deal reflects ACWA’s commitment to expanding its presence in critical energy and water projects, aligning with national goals of energy diversification and supply security. The transaction could also set a precedent for future consolidations in the sector, where scale and control are becoming crucial for competitiveness.
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